One in 7 plan to never retire

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One in seven (14%) people have no intention of ever retiring, according to the latest research by Baring Asset Management.

This is the highest figure recorded since the annual study began in 2008.

In a further indication of the growing uncertainty facing many when it comes to planning for their retirement, the research revealed that 40% of respondents said they did not know when they will be able to retire, up from 38% in 2012 and 36% in 2011.

Thirty-four percent of those surveyed admitted they have no pension.

The survey also uncovered a growing gender divide, with the number of women who do not have a pension rising from 39% to 42% in five years, while the number of men without a pension has fallen from 30% to 26%.

"It is clear that uncertainty is increasing for many people around retirement plans, with more people unable to say exactly when they plan to retire and the average age continuing to rise," said Marino Valensie, chief investment officer at Barings.